Get Our Newsletter

Tech Cocktail DC

LivingSocial To Close 918 F St. Facility & Stop Producing Live Events

livingsocial

The Washington Post’s Steven Overly is reporting that Washington DC-based LivingSocial is going to close their 918 F. St NW class & events facility, as well as cease production of all live events as of this spring.

Additionally, as part of the Amazon.com’s regulatory filing, it was revealed that LivingSocial had a net loss of $183M for 2013. This is up from their $653M net loss in 2012. Amazon owns 30 percent of LivingSocial, which is why LivingSocial’s financials are included in Amazon’s.

With new leadership coming, a new and sizable war chest, and renewed focus on their online platform for merchants, it’ll be interesting to see if LivingSocial will be able to close the gap and finally hit profitability in 2014.

 

Get more delivered to your inbox just like it!
Get Our Newsletter
Sorry about that. Try these articles instead!
About the Author

Justin is a recent Vegas transplant, where he leads community development for Tech Cocktail. Previously in Washington DC, he ran online marketing for HelloWallet and publisher happiness for Clearspring (now AddThis). He was also a very active DC Tech community organizer.

Leave a Reply

  • (will not be published)